The new system enables drivers to pay for parking by simply passing their payWave card near the contactless terminal to ‘check in’ to the parking lot, and once again when exiting to complete the transaction. Once the receipt is printed, the driver is free to exit.

TPA has also added contactless terminals to its Zeag pay on foot pay stations, so drivers who take a ticket when entering a lot can use payWave to pay for their parking at these stations before they return to their cars and depart.

According to Visa, the 43 Green P lots comprise some 11,600 parking spaces throughout the city of Toronto.

Visa payWave transactions employ EMV chip technology, which uses a standard 128-bit encryption technology, to securely store and encrypt confidential information. When a customer uses a payWave terminal, the card and the terminal reader exchange security information and the transaction is completed, all in less than one-third of a second, according to Visa.